RAPTr’s architecture resembles a traditional, multi-tiered client/server architecture, which is implemented using a heavyweight NT client and a Solaris-Oracle back-end that communicates using a distributed object abstraction implemented by Kestrel's Phoenix Distributed Processing Interface (PDPI). The back end implements a number of services that create, retrieve, and update various classes of objects (i.e. books, accounts, instruments, etc). The RAPTr object model is designed for easy extensibility, both in terms of adding new instrument classes and incorporating alternative analytics to the bundled TIPS package. This particular architecture was chosen to meet the specific high performance needs of sell-side fixed-income market-makers, with a need or large real-time pricing volumes using a variety of benchmarking techniques.

Recognizing the market demand for “lighter” client front ends, over the past two releases Kestrel has made numerous architectural changes to push processing loads down to the server. This work has laid the groundwork for Kestrel’s eventual move to an ASP-based delivery model.